Addis Ababa, March 24, 2025 – The economic integration of Africa must be seen as an existential issue, the former Nigerian Vice President Professor Yemi Osinbajo underscored.
Professor Osinbajo stressed the importance of strong political leadership to push forward the African Continental Free Trade Area (AfCFTA), which is one of the key instruments to expediting economic integration in the African continent.
“If the AfCFTA succeeds, it will mean phenomenal success for African economies,” he said.
On a related note, Wamkele Mene, Secretary-General of the AfCFTA, provided updates on the agreement’s progress.
He revealed that 48 member states have ratified the AfCFTA, creating a strong legal framework for trade liberalization and economic integration.
“We have 19 countries that have gazetted their tariff schedules, indicating they are ready to trade.”
Mene added that over 2,600 certificates of origin have been issued, demonstrating that trading is already underway.
In addition, Mene highlighted ongoing efforts to establish trade aggregating companies to facilitate intra-Africa trade.
These companies will enhance the efficiency of collecting goods from farmers, smallholder farmers, and SMEs.
To support these initiatives, Afreximbank has committed 750 million USD to support AfCFTA trading companies.
He reaffirmed that the AfCFTA Secretariat remains committed to working with all stakeholders to accelerate implementation and maximize the Agreement’s impact. (Ethiopian News Agency)
